See mor as SEC releases 30 signs to identify scam investments

• The Securities and Exchange Commission has released a database of 30 reddish flags to assistance Nigerians place and debar scam concern schemes
• The improvement follows the determination by the CBEX Ponzi strategy scam, which near galore Nigerians counting their losses
• The committee has urged Nigerians to verify immoderate concern connection done its website and different authoritative channels

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

As portion of its efforts to protestation Nigerians from concern scams, the Securities and Exchange Commission (SEC) of Nigeria has released a usher outlining 30 signs to assistance spot imaginable concern fraud.

SEC releases signs to instrumentality to debar platforms similar CBEX Photo credit: nurphoto
Source: Getty Images

In a statement shared connected X, the committee noted that fraudsters often lure unsuspecting victims with promises of instant wealth, high-pressure income tactics, and requests for upfront payments via acquisition cards oregon cryptocurrency.

A connection from the SEC reads:

"If an concern accidental sounds excessively bully to beryllium true, it apt is. Scammers often prey on emotions by promising speedy fixes oregon unrealistically precocious returns. Always verify information, inquire questions, and ne'er consciousness pressured into making a fiscal decision. Your information and fiscal well-being are paramount."For further verification, individuals are encouraged to cheque the registration presumption of companies connected the SEC Nigeria website (www.sec.gov.ng) oregon interaction SEC Nigeria straight astatine 0916 772 3240."Stay informed, spot your instincts, and support yourself from concern scams."

SEC wants Nigerians to beryllium vigilant Photo credit: nurphoto
Source: Getty Images

Here are the 30 signs of a scam

1. Paying wealth to get much money? Likely a scam.
2. Asked to stock a codification sent to your phone? Be cautious.
3. Promised instant wealthiness with nary effort? Red flag.
4. A woody that sounds excessively bully to beryllium true? It astir apt is.
5. Pressured to enactment accelerated without clip to think? Be wary.
6. Unnecessary requests for idiosyncratic info? Think twice.
7. A "secret millionaire" offering you money? Unlikely.
8. Something "free" but requires outgo first? Scam alert.
9. Won a prize but request to wage to assertion it? It's fake.
10. Inheritance from an chartless relative? Highly suspicious.
11. A occupation connection with nary interrogation oregon documents? Not legit.
12. Urgent emails requesting money? Ignore them.
13. Guaranteed profits with nary risk? No specified thing.
14. Payment lone via acquisition cards oregon crypto? Walk away.
15. A shady-looking website? Don't spot it.
16. Asked to transportation wealth overseas for business? Big risk.
17. The sender won't supply verifiable interaction info? Scam.
18. The woody is excessively secretive? Watch out.
19. Told to support wealth matters "confidential"? Be skeptical.
20. High-pressure tactics, threats, oregon guilt trips? Say no.
21. Fees oregon taxes required upfront for a prize oregon loan? Scam tactic.
22. No clip to verify details earlier deciding? Not a bully sign.
23. A random concern accidental retired of nowhere? Likely fake.
24. Someone claims to beryllium an adept but lacks proof? Don't judge them.
25. Need to nonstop wealth to person a loan? Not legit.
26. A "miracle" cure oregon investment? Highly doubtful.
27. Told to debar ineligible channels? It's illegal.
28. Overly analyzable woody with nary wide answers? Be suspicious.
29. Asked to usage an unfamiliar outgo method? Think again.
30. Overly affable but avoids discussing concern clearly? Walk away.

Wanted promoter of CBEX surrenders to EFCC

Ealier, Legit.ng reported that 1 of the wanted Crypto Bridge Exchange (CBEX) promoters, Adefowora Abiodun Olaonipekun, has surrendered himself to the Economic and Financial Crimes Commission (EFCC).

Adefowora, accompanied by his lawyers, turned himself successful astatine the EFCC office successful Abuja connected Monday, April 28, 2025.

Counsel to the CBEX promoter, Babatunde Busari, explained the crushed his lawsuit decided to taxable himself to the EFCC.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng